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Jan 29, 2013
01/13
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CNBC
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eventually we'll have to deal with spending cuts and the debt ceiling debate. whether or not that's it. for the meantime, the markets run a long time just because they are soaking up all the stimulus from the fed. >> a lot of stimulus from the other central banks cutting trase today. greg, you want to get in front of this train and fight the fed? >> yeah, i think that the fed is going to continue pushing pretty hard this year but equity investors have to take a look at what's in the fed's tool backs and realize they have shot every arrow that they have got. they will keep gig qe this year, maybe another $1 trillion but even inside the fed there's doubts about how much more effective will be at this stage, what, with long-term interest rates as low as they are. tomorrow i don't expect any fireworks from them. i'll be interested to see how they characterize the economy, whether they are getting more comfortable with it now that we have the biggest piece of the fiscal cliff out of the way or whether they are still concerned that employment is sluggish an inflation
eventually we'll have to deal with spending cuts and the debt ceiling debate. whether or not that's it. for the meantime, the markets run a long time just because they are soaking up all the stimulus from the fed. >> a lot of stimulus from the other central banks cutting trase today. greg, you want to get in front of this train and fight the fed? >> yeah, i think that the fed is going to continue pushing pretty hard this year but equity investors have to take a look at what's in the...
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Jan 24, 2013
01/13
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CNBC
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ceiling. by cutting back on capital investment, and not firing people. there was a lot of anecdotal evidence over that, that they were waiting this out. that maybe they thought this time around it was more bluff and bluster than reality that we'd hit the debt ceiling. and that seems to have paid off. people don't -- employers don't like to fire employees. not only because of, you know, being gentle human beings but because it's costly for them to do that. they tried to hold on. what we seemed to be seeing here right now is i held my exuberance last week because i thought it was a one-off seasonal adjustment thing and you do have to be careful in the month of january, as people come off the rolls because of the seasonal hiring. and there's still some reason for skepticism. but staying down at this level for a second week, joe, we've always said 350 was the bottom of the range, and we're putting in a new bottom down there this 330 that you've got to think about. probably payrolls up near 200,000
ceiling. by cutting back on capital investment, and not firing people. there was a lot of anecdotal evidence over that, that they were waiting this out. that maybe they thought this time around it was more bluff and bluster than reality that we'd hit the debt ceiling. and that seems to have paid off. people don't -- employers don't like to fire employees. not only because of, you know, being gentle human beings but because it's costly for them to do that. they tried to hold on. what we seemed...
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Jan 25, 2013
01/13
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CNBC
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three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in washington. i don't think that's any one person's fault by any means. i think not making the fight about the debt ceiling, which has the unfortunate downside that if you mess it up, the u.s. government defaults, and it's a financial catastrophe, this was a sign of maturity. i think on the republicans' part that let's make it about the budget. so the budget is now going to come to so-called continuing resolution. they're going to have to have a fight about a government shutdown. this is what they should be arguing about. what does the government spend money on? what should it spend mon
three or four months with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in...
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Jan 24, 2013
01/13
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CNN
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ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year. >> reporter: now, we have been asking our guests here for the riskometer. on this side we have is the u.s. a bigger threat to global growth in 2013. on this side the e.u. lutnic thinks the u.s. is by far the bigger. as you look overall most people still seem to believe europe is the biggest threat in 2013. by the way, speet tweet me wher think the biggest threat is. >> very official looking. did you make that yourself? >> don't you mock it? it works and it is doing a good job. >> we will have people tweet you and see what they feel about all of this but a lot of power players weighing in on whether or not there i
ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. and you are going to watch the u.s. do crazy, crazy things this year. >> if you are right on those crazy, crazy things, then the rest of us are in for a dreadful, dread full time? >> dreadful. it is going to be so strange for the richest country on earth to cross their arms and say i'm not paying. imagine crossing your arms. you are going to see it this year....
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Jan 27, 2013
01/13
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CNN
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congress voted to suspend the debt ceiling for three months and figure out deeper cuts to reduce the deficit. that keeps me employed for a few more months. but even before that deadline hits, again, march 1st will be on us. the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation. the automatic across the board spending cuts. and then there's another date to worry about, april 15th. not just tax filing day, but the date by which congress has promised to adopt a budget resolution. they've even this time staked their pay on it, agreeing to reach a deal or face suspension of their paychecks until they reach a deal. that might just be enough of a carrot to present a budget that takes on our ballooning deficit. but the battle over that deficit make that recent battle over tax hikes for the rich seem like a friendly game of badminton. big spending cuts are needed and they will hit americans where it hurts. health care, medicare, social security. president obama emboldened by his re-election has already drawn his so-called line in the
congress voted to suspend the debt ceiling for three months and figure out deeper cuts to reduce the deficit. that keeps me employed for a few more months. but even before that deadline hits, again, march 1st will be on us. the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation. the automatic across the board spending cuts. and then there's another date to worry about, april 15th. not just tax filing day, but the date by which congress...
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Jan 24, 2013
01/13
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CSPAN
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we want to remind you, in case you missed it, the house passed a bill yesterday suspending the debt ceiling. here is a baltimore sun piece. also on page 6 of "the baltimore sun" is a picture of john boehner and says -- they show the speaker in a photo saying it would cut the deficit twice as fast as other plants. the speaker is also out there making a speech to the society. the headline basically says this -- his focus is basically to annihilate the republican party. here's a look at you to but. [video clip] >> from what we heard yesterday, it is pretty clear to me -- it should be clear to all you he knows he cannot do any of that as long as the house is controlled by republicans. we are expecting over the next 22 months to be the focus of this administration as they attempt to annihilate the republican party. i do believe that is their goal. and just to shut us into the dustbin of history. host: these were remarks to the ripon society. they go on to write to that the transcripts or accurate, and noted that the speaker regularly attends the event. perhaps we will hear more about this in the
we want to remind you, in case you missed it, the house passed a bill yesterday suspending the debt ceiling. here is a baltimore sun piece. also on page 6 of "the baltimore sun" is a picture of john boehner and says -- they show the speaker in a photo saying it would cut the deficit twice as fast as other plants. the speaker is also out there making a speech to the society. the headline basically says this -- his focus is basically to annihilate the republican party. here's a look at...
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Jan 28, 2013
01/13
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CSPAN2
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the tax cut deal, the big fights over the budget and the debt ceiling and deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took, why he took the actions he took in that very perilous time politically, but i also explain how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and mitt romney, but a choice between different ideologies, different approaches to government, between different sets of visions and values. and everything he did in that time frame he kept trying to tether to this big idea he had about a choice. and when i wrote the book, of course, we can't know how things would end up on november 6, 2012. but, um, i looked at how he developed his governing strategy and his electoral strategy, and it really culminated in november. so this is the back story to what happened in this presidential campaign. >> host: david corn, "sh
the tax cut deal, the big fights over the budget and the debt ceiling and deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took, why he took the actions he took in that very perilous time politically, but i also explain how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory after he took that big hit in 2010, he had a theory that he could make the 2012...
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Jan 27, 2013
01/13
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CSPAN2
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ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it. and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still at negative growth with 7%. >> exactly. >> with so now you're up to 50% or so of world gdp that is a drag on the economy. how do you look at, you know, the broadest sense of contagion as it relates to emerging market growth and developing country growth with 50% of world gdp possibly in that situationsome. >> well, i think the trade figures tell it all, whether you agree with the figure on growth or not, i think the trade figures show what's happening. and there's no doubt picking one of the countries you've mentioned, china. i mean, china for the last 20 years has been double-digit growth. last year they had one of the worst years in recent memory. we'll see the final figures coming out. it didn't get below 7% which i view as a hard landing, but when you move from double digit down to 7 something percent, and one of the major driv
ceiling and some of the spending cuts and get into some of the fiscal order that you were talking about, you're going to have that weight on it. and even though you proposed a lot of hope with japan in terms of some of the political leadership, they are still at negative growth with 7%. >> exactly. >> with so now you're up to 50% or so of world gdp that is a drag on the economy. how do you look at, you know, the broadest sense of contagion as it relates to emerging market growth and...
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Feb 1, 2013
02/13
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CSPAN2
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. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to vote for a thicker national debt either. that doesn't care what their philosophy to pick them up with a strategy and in the meantime we want the senate to pass a budget for 2014 and the law says if either chamber fails a budget, paychecks will be docked. the whole idea is to postpone the economy default situation until the prosecutor at the continuing fight over taxes and then made to a point where both sides are satisfied in the debt limit can be raised again. >> how a template of a increasing the deficit in effect the economy and financial markets? >> where do you know
. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to...
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Feb 1, 2013
02/13
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CSPAN2
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. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time in nation's history. they department want to do that again. like i said, i didn't want to vote for a bigger national debt either. that doesn't fit with their philosophy. they came up with the strategy of saying we're going us is fend. and in the meantime, they want the senate to pass a budget for 2014 and the law salses that -- says that if either chamber fails to adopt a budget by april 15, the paychecks will be docked. the idea of the thing is to postpone the sort of economy raddling default situation until they can prosecute the continuing fight over taxes and spending to a point where, you know,
. >> why did lawmakers decide it was best to delay having to debate raising the debt ceiling? >> well, it was a decision by house republican leaders a few weeks ago. they tried in 2011 to use the debt limit as a lynch -- leverage point to force obama to swallow spending u cuts. it worked but -- [inaudible] to something like 9%. and they recognize that it was a bad idea. i mean, gambling with the credit of the united it turned out is a bad idea. we were downgraded for the first time...
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Jan 24, 2013
01/13
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CURRENT
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going to raise it without equal pay cut, and basically he went back on that, and as you said, all he did was kick it down the road for three months. what was the point for him? >> the point was to look like they had some kind of a win because they knew they were in trouble on the debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see. they are going to try to balance the budget in ten years, which you cannot do without slashing medicare and medicaid, and social security. so the american people will get, i think, a very good look at the way republicans want to balance the budget and do deficit reduction and the way democrats do. we actually went through this with paul ryan's budget which was so egregious the leader of his party had to back away from it in the campaign. >> stephanie: yeah, it was seen as sort of a slap at the senate but they are calling it the no budget, no pay idea. it has been regarded by a lot of people as a gim
going to raise it without equal pay cut, and basically he went back on that, and as you said, all he did was kick it down the road for three months. what was the point for him? >> the point was to look like they had some kind of a win because they knew they were in trouble on the debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see....
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Feb 1, 2013
02/13
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KCSM
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that's because the debt already reached a ceiling of $16.4 trillion set by law. the bill is putting pressure on both chambers of commerce by mid-april. republicans are expected to continue pushing the government to cut the fiscal deficit by reviewing social security spending. the budget is a lingering concern for lawmakers. they must come up with measures to resolve the issues of spending cuts by early march. here in japan the jobless rate in december has gotten worse. the number of jobs on offer for people seeking work has seen the first increase in five months. the latest data from the internal affairs ministry shows unemployment for december was 4.2%. that's up .1 of a point from december. the number of people without a job increased by 70,000 to 27.8 million. those with a job fell 350,000 to 62.6 million. as for the whole of 2012 the job situation improved. the average unemployment rate last year stood at 4.3%. that's down .3 of a point from the previous year. the labor ministry announced that the ratio of job vacancies to seekers improved slightly in decembe
that's because the debt already reached a ceiling of $16.4 trillion set by law. the bill is putting pressure on both chambers of commerce by mid-april. republicans are expected to continue pushing the government to cut the fiscal deficit by reviewing social security spending. the budget is a lingering concern for lawmakers. they must come up with measures to resolve the issues of spending cuts by early march. here in japan the jobless rate in december has gotten worse. the number of jobs on...
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Jan 27, 2013
01/13
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MSNBC
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for every dollar increase in this debt ceiling we have to have a dollar in cuts to match that. the president said earlier this month, i'm not doing that anymore. we are not going to keep negotiating over the debt ceiling. this is our obligation over. the republicans have conceded the president had won the argument and are now -- this week they ebb extended the debt ceiling with no accompanied spending cuts. the republicans will cede that issue to him. >> your latest article, mitt romney i'm not going away. tell me. >> certainly was a little different. he came in to toub this weekend for the alfalfa dinner. we hadn't seen a lot from mitt romney since he lost in november. he to told donors that it was purposeful. he is not going anywhere. he will be active in 2013 and 2014s and in terms of 2016. although some sources said his personal ambition for public office are over. >> good to see you both today. thank you so much. >> thank you, t.j. >>> to the weather, the midwest is facing an ice threat. winter storm is dropping snow and freezing rain expected to bring icy conditions. powe
for every dollar increase in this debt ceiling we have to have a dollar in cuts to match that. the president said earlier this month, i'm not doing that anymore. we are not going to keep negotiating over the debt ceiling. this is our obligation over. the republicans have conceded the president had won the argument and are now -- this week they ebb extended the debt ceiling with no accompanied spending cuts. the republicans will cede that issue to him. >> your latest article, mitt romney...
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Jan 24, 2013
01/13
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MSNBC
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for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a bipartisan effort. look, if you look at the goal, we've got to get our fiscal house in order, we've got to balance the budget, and in order to do that, the senate actually has to produce a budget, which they haven't done in nearly four years. the house has had budgets for each of the last two years that actually get to balance. so what we did, in this bill, is to say to the senate, look, you've got to do a budget. families do budgets, businesses do budgets, employers do budgets. the senate has not done a budget in nearly four years, so this is the challenge for th
for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a...
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ceiling or the fiscal cliff i think is a significant force in the role of economic policy that is five years ago if i face a. journalist that you asked me face problems with service and it's it's. probably no you know lunatic aside now this possibility that perhaps not their ally. still is on the take. and this is just a byproduct waltz in washington all the phenomena of the kind of policy you know the most important economy in the world. but without a minus check out the markets us will be able to see they are indeed mixed but the down watch lee continues north actually averaging a five year high and that's despite u.s. confidence coming out. not by taxes and spanks over in washington but gains on the dollar though really thanks to corporate earnings from the likes of drug make a fire which rose two point eight percent of the higher than expected full year profit and energy shares as well collines also having a good session reporting a twenty fold profit so that's why it is half a percent for the dow. started out now the footsie in london as you can see seven tenths of a cent london h
ceiling or the fiscal cliff i think is a significant force in the role of economic policy that is five years ago if i face a. journalist that you asked me face problems with service and it's it's. probably no you know lunatic aside now this possibility that perhaps not their ally. still is on the take. and this is just a byproduct waltz in washington all the phenomena of the kind of policy you know the most important economy in the world. but without a minus check out the markets us will be...
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the second problem of the second more and more important problem than just the monitor of the debt ceiling or the fiscal cliff to use the significant force in an economic policy that's five years ago is facing. in terms that you asked me face problems with the service and it's it's. probably you know the lunatic second now this possibility that perhaps not they're all right. still is on. and this is just a byproduct waltz in washington of economics of the kind of false if you emotional for the economy in the right. right token of the economy let's check out the u.s. markets they do remain minutes ago the dow continuing north around hoffer percent that five year high despite u.s. confidence coming out. really knocked by taxes in spots over in washington the games are on the dow thanks to corporate earnings from drug micah finds on energy shows up the lera reporting a twenty fold gain in profit that the two standout stocks to me the nasdaq down a fraction the footsie in london also had a good day of it which indicates that investors are expectant of more such a bike stimulus going forward as
the second problem of the second more and more important problem than just the monitor of the debt ceiling or the fiscal cliff to use the significant force in an economic policy that's five years ago is facing. in terms that you asked me face problems with the service and it's it's. probably you know the lunatic second now this possibility that perhaps not they're all right. still is on. and this is just a byproduct waltz in washington of economics of the kind of false if you emotional for the...
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Jan 24, 2013
01/13
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WRC
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the treasury has warned the country could default on some loans as early as next month if the debt ceiling isn't lifted. >>> 6:48 now. a local company reporting major losses. they say the reason is defense cuts. cnbc has more live. kayla, good morning. >>> good morning, aaron. general dynamics, one of the nation's biggest federal contractors, reported a huge quarterly loss on wednesday, blaming it largely on defense cuts. the company which is based in falls church, virginia, posted a $2 billion fourth quarter loss on lower than expected sales as shrinking government orders and writedowns hammered the maker of weapon and aircraft. stock dropped as much as 5% in trading before recovering to close up about 1%. analyst attribute that to reassuring comments from the company ceo. >>> the washington's dependence on government and defense contracts makes it vulnerable to the spending cuts put in place by president obama and congress between 2000 and 2010. government procurement spending grew by double digits. last year it fell by more than 5%. back to you. >> thank you. >>> redskins players are be
the treasury has warned the country could default on some loans as early as next month if the debt ceiling isn't lifted. >>> 6:48 now. a local company reporting major losses. they say the reason is defense cuts. cnbc has more live. kayla, good morning. >>> good morning, aaron. general dynamics, one of the nation's biggest federal contractors, reported a huge quarterly loss on wednesday, blaming it largely on defense cuts. the company which is based in falls church, virginia,...